Home Selling in Pomona>Question Details

Nirali, Home Buyer in Rancho Cucamonga, CA

CMA- I'm interested in a CMA for my home: 126 Pistacia Lane Pomona CA 91767.

Asked by Nirali, Rancho Cucamonga, CA Wed Apr 18, 2012

This would be a short sale. I would like a CMA giving me a good idea what I could get for it. The home across the street with the same exact floor plan went for $325K. I'm expecting something close to this amount. Also do you think homes in my area are still going down or have stabilized? I'll be looking for an agent shortly.

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Answers

8
Bill Mota’s answer
Roberta, Your question should NOT be what can you get for the house - your question should be:
- How would doing a short sale affect my credit score?
- How long will the process take?
- Can I continue to collect rent during the short sale process?
- Can I avoid a deficiency judgements from 1st and 2nd TD holder?
- What happens to my capital gains deferments since this was a rental?
These issues remain the same whether you sell at $300,000 or $400,000 - by definition, on a short sale the seller receives NO PROCEEDS - all the money goes to the creditors.
I will send you some info and follow up in a few days. Bill Mota 626) 233-0190
0 votes Thank Flag Link Thu Apr 19, 2012
Roberta,
If you are in a short sale situation you need to find an agent (and company) who will help you determine the right price to market the property and discuss the short sale process with you and why for you (the owner) more important than price is time, which is of the essence because a short sale is always better than a foreclosure. Your agent will know why.
Typically in a short sale situation it is ultimately the lender or third party that will determine the selling price based on brokers price opinion and their own criteria.
I"d like to answer some of your questions so if I can be of any help, call me.
Ruth Rankins
Prudential California Realty
626-392-9670
Certified Distressed Property Expert
Relocation Certified
0 votes Thank Flag Link Wed Apr 18, 2012
Hello Roberta,

With a short sale price shouldn't be a concern to you at all, unless you're not sure whether your home is upside down or not. Based on your question, it appears you have determined it's going to be a short-sale perhaps due to sale across the street at 325k. If it's a model match and sold recently, you are right to assume it will be around the same price point. I know exactly where you home is located and values in the area as still unstable partly in part due to number of short-sales present and coming down the road.

Your job now is to interview a few agents who have experience and success in representing sellers whom sold as a short-sale. There are many variables to selling as a short-sale, and a good agent can help you understand and handle as they present themselves. When you are ready to have a conversation about your options please do not hesitate to call us.

Hope we can be of assistance.

Sincerely,

Trinidad Gaeta
Remax Realty 100 inc.
626-552-8637
0 votes Thank Flag Link Wed Apr 18, 2012
Regarding comparable sales, I would need to know which model you have, but the avg. for the 2453sqft homes is about $330K
0 votes Thank Flag Link Wed Apr 18, 2012
There are 2 other homes in your neighborhood that are on the auction block with 3 recent distressed sales. For a community so small that's actually quite a lot. Yes, I think your neighborhood could still decline in value due to the HUGE amount of homeowners that are still under water by over $100K. There are still 66 homes where owners paid more than $450K & a high percentage of them did NOT initially put down more than 20%, many owners got 100% or FHA financing with minimal down.

I noticed you had the home leased out, are you in the US or are you in Manila / Philippines, I was googling a little?

I have successfully closed 100% of the short sale / NOD listings I have taken since Jan. 1st 2006 & have closed over 3 dozen, my partner has closed over 700. You don't have to be missing payments for me to close your short sale. Sometimes it just makes sense to dump the property & move on, build equity elsewhere.

I would be happy to show you my Short Sale Resume & you can ask me anything you like about the process, I think you'll find that with my answers, I know what I'm doing.


EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
**Proven Short Sale Success
0 votes Thank Flag Link Wed Apr 18, 2012
Hello Roberta,
I'll be glad to help you with a sale of your house.I work in the area and have a short sale experience.
Please contact me at my email Ludy@tarbell.com or call me at (909)731-7124
Currently I have a short sale listing in Corona helping people to have a new start.
You can contact them if you wish.

Thank you
Ludy Ivonina
Tarbell,Realtors
0 votes Thank Flag Link Wed Apr 18, 2012
Hi Roberta,

I would be happy to discuss this with you. Please call me

Daniel Harms
Tarbell, Realtors-Upland
951-232-5382
0 votes Thank Flag Link Wed Apr 18, 2012
Understand that it will make absolutely no differnece to you what your house can sell for, or will sell for:
The bad news is that you won't see a penny of that money on a Shortsale,
The good news is that you won't be charged for a penny of the difference.

I trust that you truly have a HARDSHIP that you can sell your Bank on?
Have you composed your Hardship letter?
Have you communicated such with your Lender?
0 votes Thank Flag Link Wed Apr 18, 2012
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